1. Purpose Is Your Anchor in Uncertain Times When things go wrong—and they will go wrong in business—your purpose is what keeps you from quitting. If you’re building a company just to make money, the moment profits slow down, your motivation dries up. But if your business is rooted in something bigger—helping people, solving a real problem, creating meaningful change—then you’ll find a reason to keep going even when the money isn’t flowing. Purpose is the anchor that holds you st...
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1. Purpose Is Your Anchor in Uncertain Times When things go wrong—and they will go wrong in business—your purpose is what keeps you from quitting. If you’re building a company just to make money, the moment profits slow down, your motivation dries up. But if your business is rooted in something bigger—helping people, solving a real problem, creating meaningful change—then you’ll find a reason to keep going even when the money isn’t flowing. Purpose is the anchor that holds you st...
S Corp Simplified: What It Is and Why It Might Be Right for Your Business
Startup Business 101
35 minutes
2 months ago
S Corp Simplified: What It Is and Why It Might Be Right for Your Business
S Corp Simplified: What It Is and Why It Might Be Right for Your Business 1. An S Corporation Is a Tax Election—Not a Type of Business Let’s clear up a huge misconception right off the bat: an S corporation (or S corp) is not a type of business entity like an LLC or a corporation—it’s a tax classification you choose with the IRS. This means your company (typically an LLC or C-corporation) elects to be taxed as an S corp by filing IRS Form 2553. So, legally, you might be an LLC or Inc...
Startup Business 101
1. Purpose Is Your Anchor in Uncertain Times When things go wrong—and they will go wrong in business—your purpose is what keeps you from quitting. If you’re building a company just to make money, the moment profits slow down, your motivation dries up. But if your business is rooted in something bigger—helping people, solving a real problem, creating meaningful change—then you’ll find a reason to keep going even when the money isn’t flowing. Purpose is the anchor that holds you st...
